Citibank used a March 22 “Commercial Firearms Policy” to announce a requirement that gun stores quit selling “high capacity” magazines in order to do business with the bank.
Citibank’s new policy:
Under this…policy, we will require new retail sector clients or partners to adhere to these best practices: (1) they don’t sell firearms to someone who hasn’t passed a background check, (2) they restrict the sale of firearms for individuals under 21 years of age, and (3) they don’t sell bump stocks or high-capacity magazines. This policy will apply across the firm, including to small business, commercial and institutional clients, as well as credit card partners, whether co-brand or private label. It doesn’t impact the ability of consumers to use their Citi cards at merchants of their choice.
Every gun purchased at retail must already be acquired via a background check according to federal law. Citibank’s emphasis on background checks would require licensed firearms dealers to go beyond federal law and refuse to sell a gun to anyone if an instant background check lasts three business days without incriminating evidence being discovered against the would-be buyer. – READ MORE
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